Insured Tax Exempt Municipal Income, 249

Description

This unit investment trust seeks to provide investors with income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of insured municipal bonds.

Summary

Product Code:	FI249
Portfolio Status:	Secondary
Initial Offer Date:	07/26/2012
Secondary Date:	08/28/2012
Avg Life / Pricing Life:	21.8 / 7.9
Tax Structure:	RIC

Initial Offer Price:	$995.2600
NAV(*):	$941.5800
POP(*):	$989.1800
PAR(*):	$883.2000

* As of Trade Date: 05/22/2013 4:00pm ET

Income Information

CUSIP	Price Code	Frequency / Distributions	Accrued Interest	Estimated Annual Income	Estimated Current Return	Estimated Long Term Return
33737E613	079549	Monthly	$1.8600	$36.9500	3.740%	2.787%

Holdings

Export Current Holdings | View Initial Holdings

CUSIP	Par	Description	St	Coupon	Maturity(M) /Escrow(E) Date	Next Call Date	Call Price
017357XX7	125,000	ALLEGHENY CNTY PA SAN AUTH ALLEGHENY CNTY PA SAN AUTH	PA	4.375	06/01/2034M	12/01/2020	100.0000
124511KD7	60,000	BYRON CENTER MI PUBLIC SCHS BYRON CENTER MI PUBLIC SCHS	MI	4.000	05/01/2030M	05/01/2020	100.0000
139372PD2	175,000	CAPE CORAL FL WTR & SWR REVENU CAPE CORAL FL WTR & SWR REVENUE	FL	5.000	10/01/2041M	10/01/2021	100.0000
14343LDW7	175,000	CARMICHAELS PA AREA SCH DIST CARMICHAELS PA AREA SCH DIST	PA	3.875	09/01/2037M	09/01/2017	100.0000
145339KM8	200,000	CARROLLTON GA PAYROLL DEV AUTH CARROLLTON GA PAYROLL DEV AUTH REVENUE	GA	4.000	06/15/2032M	06/15/2022	100.0000
167593CC4	400,000	CHICAGO IL O'HARE INTERNATIONA CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE	IL	5.250	01/01/2035M	01/01/2020	100.0000
181006FS1	400,000	CLARK CNTY NV PASSENGER FAC CH CLARK CNTY NV PASSENGER FAC CHARGE REVENUE	NV	5.250	07/01/2039M	01/01/2020	100.0000
186352PV6	140,000	CLEVELAND OH ARPT SYS REVENUE CLEVELAND OH ARPT SYS REVENUE	OH	5.000	01/01/2027M	01/01/2022	100.0000
189849HL9	670,000	COACHELLA VLY CA UNIF SCH DIST COACHELLA VLY CA UNIF SCH DIST	CA	5.000	08/01/2037M	08/01/2022	100.0000
19648AQC2	40,000	COLORADO ST HLTH FACS AUTH REV COLORADO ST HLTH FACS AUTH REVENUE	CO	5.500	05/15/2030M	05/15/2019	100.0000
354496GH8	300,000	FRANKLIN PARK IL FRANKLIN PARK IL	IL	6.250	07/01/2030M	07/01/2021	100.0000
405815HF1	125,000	HALIFAX FL HOSP MED CTR HALIFAX FL HOSP MED CTR	FL	5.500	06/01/2038M	06/01/2018	100.0000
40727TCU6	500,000	HAMILTON CNTY OH HLTH CARE FAC HAMILTON CNTY OH HLTH CARE FACS REVENUE	OH	4.000	06/01/2029M	06/01/2022	100.0000
40727TCW2	325,000	HAMILTON CNTY OH HLTH CARE FAC HAMILTON CNTY OH HLTH CARE FACS REVENUE	OH	4.125	06/01/2030M	06/01/2022	100.0000
410392AU8	375,000	HANFORD CA WSTWTR REVENUE HANFORD CA WSTWTR REVENUE	CA	4.000	10/01/2030M	10/01/2022	100.0000
474682EU1	140,000	JEFFERSON PARISH LA HOSP SVC D JEFFERSON PARISH LA HOSP SVC DIST #1 HOSP REVENUE	LA	6.000	01/01/2039M	01/01/2021	100.0000
542690Y30	400,000	LONG ISLAND NY PWR AUTH LONG ISLAND NY PWR AUTH	NY	5.000	05/01/2036M	05/01/2021	100.0000
546589PH9	90,000	LOUISVILLE & JEFFERSON CNTY KY LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST	KY	4.250	05/15/2038M	05/15/2018	100.0000
551681JZ3	400,000	LYNNWOOD WA LYNNWOOD WA	WA	4.000	12/01/2032M	12/01/2022	100.0000
555597FK4	300,000	MACON CNTY IL SCH DIST #61	IL	5.250	01/01/2032M	01/01/2021	100.0000
556751GB5	175,000	MADISON CNTY AL BRD OF EDU MADISON CNTY AL BRD OF EDU	AL	5.000	09/01/2036M	09/01/2021	100.0000
59259YSR1	785,000	MET TRANSPRTN AUTH NY REVENUE MET TRANSPRTN AUTH NY REVENUE	NY	4.000	11/15/2038M	11/15/2022	100.0000
59333PXF0	200,000	MIAMI-DADE CNTY FL AVIATION RE MIAMI-DADE CNTY FL AVIATION REVENUE	FL	5.125	10/01/2039M	10/01/2019	100.0000
646309GM0	400,000	NEW KENSINGTON PA MUNI SAN AUT NEW KENSINGTON PA MUNI SAN AUTH	PA	4.000	12/01/2036M	12/01/2022	100.0000
67756AY89	400,000	OHIO ST HGR EDUCTNL FAC COMMIS OHIO ST HGR EDUCTNL FAC COMMISSION	OH	5.250	11/15/2040M	05/15/2020	100.0000
736564CB9	100,000	PORTLAND ME ARPT REVENUE PORTLAND ME ARPT REVENUE	ME	5.000	01/01/2040M	01/01/2020	100.0000
777526HT4	510,000	ROSEMEAD CA SCH DIST ROSEMEAD CA SCH DIST	CA	4.000	08/01/2033M	08/01/2022	100.0000
862488FE8	125,000	STOWE TWP PA STOWE TWP PA	PA	3.500	08/01/2032M	08/01/2017	100.0000
924159BP0	155,000	VERMONT ST ECON DEV AUTH VERMONT ST ECON DEV AUTH	VT	5.000	04/01/2035M	04/01/2020	100.0000
955550EJ3	275,000	WEST READING PA WEST READING PA	PA	3.750	10/01/2030M	10/01/2017	100.0000
979544CC5	115,000	WOODLAND CA JT UNIF SCH DIST C WOODLAND CA JT UNIF SCH DIST COPS	CA	4.625	08/01/2035M	08/01/2018	101.0000

Total Number of Holdings: 31

Certain of the securities in the trust are covered by insurance policies obtained by the issuers or underwriters of the bonds from insurance companies. There can be no assurance that any insurer will be able to satisfy its commitments in the event claims are made in the future.

Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal. Interest income from closed-end municipal bond funds is generally exempt from federal income tax. However, certain distributions may be subject to federal income tax and/or subject to the alternative minimum tax.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.The markets for credit instruments, including municipal securities, have experienced periods of extreme illiquidity and volatility.

Estimated current return is determined by dividing a Trust's estimated net annual interest income per unit by the public offering price per unit. Estimated long-term return is a measure of the estimated return over the estimated life of a Trust. Unlike estimated current return, estimated long-term return reflects maturities, estimated principal prepayments, Trust charges and expenses, and discounts and premiums of securities in a Trust. Returns and prices will fluctuate. Consult a prospectus for a more complete description of the estimated current return and estimated long-term return calculations.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

Product Watch Options

Click on the appropriate CUSIP below to add it to your product watch list:

33737E613	(Cash)
33737E621	(Cash-Wrap)

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